Insider Selling: Alignment Healthcare (NASDAQ:ALHC) CEO Sells $5,918,280.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John Kao sold 298,000 shares of the business’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $19.86, for a total transaction of $5,918,280.00. Following the transaction, the chief executive officer owned 1,088,766 shares in the company, valued at approximately $21,622,892.76. This trade represents a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alignment Healthcare Trading Down 4.3%

NASDAQ:ALHC opened at $20.03 on Friday. Alignment Healthcare, Inc. has a 52 week low of $11.63 and a 52 week high of $25.12. The firm has a 50-day moving average price of $19.18 and a two-hundred day moving average price of $19.83. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 222.56, a price-to-earnings-growth ratio of 2.83 and a beta of 1.05.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, April 30th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The company’s revenue was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) EPS. On average, equities analysts expect that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Alignment Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Zacks Research downgraded shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Barclays reduced their price target on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 26th. Finally, Wolfe Research initiated coverage on shares of Alignment Healthcare in a report on Friday, April 17th. They set an “outperform” rating and a $24.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Institutional Trading of Alignment Healthcare

Hedge funds have recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of Alignment Healthcare during the 4th quarter worth $26,000. Versant Capital Management Inc raised its stake in Alignment Healthcare by 463.3% in the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock valued at $33,000 after acquiring an additional 1,135 shares during the period. Parallel Advisors LLC lifted its holdings in Alignment Healthcare by 87.7% during the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after purchasing an additional 773 shares during the last quarter. Larson Financial Group LLC purchased a new stake in Alignment Healthcare during the third quarter valued at about $33,000. Finally, First Horizon Corp purchased a new stake in Alignment Healthcare during the fourth quarter valued at about $39,000. 86.19% of the stock is currently owned by institutional investors.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.